Brokerages Anticipate Ares Management L.P. (ARES) to Post $0.42 Earnings Per Share

Wall Street analysts expect that Ares Management L.P. (NYSE:ARES) will report earnings of $0.42 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Ares Management L.P.’s earnings, with the highest EPS estimate coming in at $0.47 and the lowest estimate coming in at $0.37. Ares Management L.P. reported earnings of $0.46 per share in the same quarter last year, which suggests a negative year over year growth rate of 8.7%. The company is expected to announce its next quarterly earnings report on Monday, November 6th.

On average, analysts expect that Ares Management L.P. will report full year earnings of $1.84 per share for the current year, with EPS estimates ranging from $1.73 to $1.92. For the next fiscal year, analysts expect that the business will report earnings of $1.83 per share, with EPS estimates ranging from $1.65 to $1.98. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Ares Management L.P..

Ares Management L.P. (NYSE:ARES) last released its earnings results on Friday, August 4th. The asset manager reported $0.69 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.69. The firm had revenue of $554.00 million during the quarter, compared to analyst estimates of $442.10 million. Ares Management L.P. had a return on equity of 40.94% and a net margin of 5.86%. The business’s quarterly revenue was up 49.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.40 earnings per share.

Several research firms recently weighed in on ARES. BidaskClub cut shares of Ares Management L.P. from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. TheStreet upgraded shares of Ares Management L.P. from a “c” rating to a “b-” rating in a research report on Thursday, August 17th. ValuEngine cut shares of Ares Management L.P. from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $22.00 price objective on shares of Ares Management L.P. in a research report on Tuesday, September 5th. Finally, Royal Bank Of Canada set a $21.00 price objective on shares of Ares Management L.P. and gave the stock a “buy” rating in a research report on Saturday, August 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. Ares Management L.P. presently has an average rating of “Buy” and a consensus target price of $21.29.

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Shares of Ares Management L.P. (NYSE:ARES) traded up 0.55% during midday trading on Monday, reaching $18.40. The company’s stock had a trading volume of 53,129 shares. The stock has a market capitalization of $3.94 billion, a PE ratio of 24.63 and a beta of 1.25. The stock has a 50-day moving average price of $18.07 and a 200 day moving average price of $18.50. Ares Management L.P. has a 52 week low of $14.75 and a 52 week high of $23.25.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 18th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 6.74%. The ex-dividend date of this dividend was Wednesday, August 16th. This is a boost from Ares Management L.P.’s previous quarterly dividend of $0.13. Ares Management L.P.’s payout ratio is 169.86%.

Several institutional investors have recently modified their holdings of ARES. Royal Bank of Canada raised its position in shares of Ares Management L.P. by 359.8% during the 2nd quarter. Royal Bank of Canada now owns 9,840 shares of the asset manager’s stock valued at $177,000 after acquiring an additional 7,700 shares during the last quarter. Virtu KCG Holdings LLC bought a new stake in shares of Ares Management L.P. during the 2nd quarter valued at $212,000. Goldman Sachs Group Inc. raised its position in shares of Ares Management L.P. by 37.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 14,483 shares of the asset manager’s stock valued at $261,000 after acquiring an additional 3,982 shares during the last quarter. Balter Liquid Alternatives LLC bought a new stake in shares of Ares Management L.P. during the 2nd quarter valued at $264,000. Finally, Clinton Group Inc. bought a new stake in shares of Ares Management L.P. during the 2nd quarter valued at $264,000. Institutional investors own 14.68% of the company’s stock.

Ares Management L.P. Company Profile

Ares Management, L.P. is an alternative asset manager. The Company offers its investors a range of investment strategies. It operates through three segments: Credit Group, Private Equity Group and Real Estate Group. The Credit Group segment manages credit strategies across the non-investment grade credit universe in the United States and Europe.

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